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Old 01.09.2019, 09:14
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Retirement in Geneva for US-person

Hello, my elderly father is considering moving to Geneva to live out his last years with me, a C permit holder. He is an EU citizen currently living in the US with a green card and receiving a good pension there. I believe getting a residence permit will not be a problem since he has his own means and close ties to Switzerland (me) but am less clear about the tax implications of being a green card holder. Am I right that the only variable is that he may be forced to give up his green card (given a choice he would keep it though there will come a point where he will no longer be able to travel back) and thereby trigger the exit tax? Anyone who has faced a similar situation? Thanks!
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Old 31.08.2020, 21:34
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Re: Retirement in Geneva for US-person

I saw your newer post and thought it was worthwhile to give this old one a bump.

You should probably seek the advice of a tax professional as you and he decide whether to make this jump. Pensions/Social Security are generally not considered to be "earned income", and as such do not fall under FEIE. Thus he'd have to pay U.S. taxes and Swiss taxes and use treaties to sort the difference.
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Old 31.08.2020, 21:51
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Re: Retirement in Geneva for US-person

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I saw your newer post and thought it was worthwhile to give this old one a bump.

You should probably seek the advice of a tax professional as you and he decide whether to make this jump. Pensions/Social Security are generally not considered to be "earned income", and as such do not fall under FEIE. Thus he'd have to pay U.S. taxes and Swiss taxes and use treaties to sort the difference.
Only a year late 3Wishes. I assume he's already sorted it out since in his other thread he's talking about his mother moving here. Or perhaps his father has died since which is why his mother wants to move here.
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Old 31.08.2020, 22:07
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Re: Retirement in Geneva for US-person

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Only a year late 3Wishes. I assume he's already sorted it out since in his other thread he's talking about his mother moving here. Or perhaps his father has died since which is why his mother wants to move here.
I am aware of the date of the original post. No one ever replied to it, so it's possible that it's sorted or it's possible the OP has not thought to look into it further. I felt it was worth a bump, because details can get lost in the muddle of a move from one continent to another, and taxes can be a rather frustrating detail to get wrong or misunderstand.
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Old 01.09.2020, 10:45
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Re: Retirement in Geneva for US-person

just for completeness sake:

If the green card holder is moving abroad for more than a year, then (s)he has to forfeit the green card.

Also important to keep in mind, that you must file IRS form 8854 to let the IRS know you have left the country and make sure taxes are squared away. If you do not file the form, the IRS will still expect you to keep paying taxes, even if you have forfeited your green card (ah, America).
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